Executive Summary
C2 Blockchain Inc (CBLO) reported QQ3 2025 results with a stark revenue shortfall and substantial operating losses, underscoring a fragile near-term financial position in a volatile crypto mining environment. Revenue totaled $13 (USD thousands) for the quarter, while operating income and net income both posted a loss of $100,611, translating to an EBITDA of negative $100,611 and an EPS of -0.0004. The negative EBITDA and margins reflect a fixed-cost structure that could not be absorbed by the miniscule revenue in QQ3 2025.
Balance sheet and cash flow metrics point to liquidity and solvency challenges: cash and cash equivalents stood at $20.8 thousand, while total current liabilities reached $76.6 thousand and total liabilities were $76.6 thousand, resulting in a negative stockholders’ equity of $39.3 thousand. The company generated negative operating cash flow of $60.6 thousand in the quarter, but financing activities provided a net inflow of $100.8 thousand, yielding a modest net increase in cash of $20.8 thousand to end the period with $20.8 thousand in cash. The quarter’s performance is accompanied by year-over-year and quarter-over-quarter deterioration in operating income and net income metrics (both down approximately 2,428%), with EPS down about 2,452%, signaling continued earnings volatility tied to crypto-market dynamics and cost structure.
Management commentary and earnings call insights are not available in the provided data set. Consequently, the transcript-based insights, quotes, and context from the QQ3 2025 earnings call cannot be incorporated here. Investors should watch for any forthcoming management remarks around strategic initiatives, capital-structure optimization, and operating efficiency improvements that could alter the current risk-reward profile.
Key Performance Indicators
QoQ: -2 004.83% | YoY:-2 427.91%
QoQ: -2 004.83% | YoY:-2 427.91%
QoQ: N/A | YoY:-2 452.13%
Key Insights
Revenue: $13k in QQ3 2025; no Gross Profit or Cost of Revenue data reported for the quarter. YoY/QoQ comparisons: not available for revenue.
Profitability: Operating income = -$100,611; EBITDA = -$100,611; EBITDAR ratio = -7,739.31%; Operating income margin = -7,739.31%; Net income = -$100,611; Net income margin = -7,739.31%; EPS = -0.0004 (basic and diluted). YoY for operating income and net income shown as -2,427.91%; QoQ also -2,004.83% for both metrics. EPS YoY = -2,452.13%. These extremes...
Financial Highlights
Revenue: $13k in QQ3 2025; no Gross Profit or Cost of Revenue data reported for the quarter. YoY/QoQ comparisons: not available for revenue.
Profitability: Operating income = -$100,611; EBITDA = -$100,611; EBITDAR ratio = -7,739.31%; Operating income margin = -7,739.31%; Net income = -$100,611; Net income margin = -7,739.31%; EPS = -0.0004 (basic and diluted). YoY for operating income and net income shown as -2,427.91%; QoQ also -2,004.83% for both metrics. EPS YoY = -2,452.13%. These extremes reflect fixed-cost absorption challenges given the extremely low revenue base.
Cash flow and liquidity: Net income = -$100,611; Operating cash flow = -$60,611; Net change in cash = +$20,776; Cash at end of period = $20,796. Other non-cash item:
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
13.00 |
N/A |
N/A |
| Operating Income |
-100.61K |
-2 427.91% |
-2 004.83% |
| Net Income |
-100.61K |
-2 427.91% |
-2 004.83% |
| EPS |
0.00 |
-2 452.13% |
N/A |
Key Financial Ratios
operatingProfitMargin
-773931%
operatingCashFlowPerShare
$-0
Management Commentary
Transcript not provided: No QQ3 2025 earnings call transcript is included in the provided data. Consequently, there are no management quotes or call-specific themes to summarize. When available, expected transcript themes would typically cover strategy (capital deployment, technology roadmap, and partnerships), operations (hash rate deployment, energy efficiency, maintenance cycles), and market conditions (cryptocurrency price impact, regulatory developments).
Forward Guidance
No formal guidance is disclosed in the provided data set for QQ3 2025. Given the current quarter’s minimal revenue and negative profitability, any near-term guidance would likely hinge on: (1) sustaining or expanding financing capacity to bridge liquidity gaps, (2) achieving meaningful uplift in mining throughput or efficiency (hash rate gains, energy cost reductions), and (3) strategic monetization initiatives or cost controls to reduce fixed expenses. Investors should monitor management commentary on capital-structure optimization, progress toward scalable mining operations, and anticipated changes in energy pricing or regulatory context. In the absence of explicit targets, achievability remains contingent on successful cost containment and revenue acceleration, plus favorable financing terms.